El Salvador Now Holds Over 6000 BTC, Becoming the Sixth Country to Do So

El Salvador, the first country to have Bitcoin as legal tender, has boosted its Bitcoin reserves to over 6,000 BTC, leading to a $569 million increase in treasury growth.

El Salvador, the pioneer nation to undertake Bitcoin as a legal tender, has now bolstered its Bitcoin reserves, surpassing the 6,000 BTC mark, which led to a $569 million treasury growth. This latest move positions El Salvador as the sixth country to hold over 6,000 BTC.

On December 29, the Central American country added one Bitcoin to its portfolio, bringing the total to 6000.77 Bitcoin, which amounts to $569.3 million, as per the National Bitcoin Office of El Salvador’s portfolio tracker.

Following the purchase, the country’s Bitcoin investment increased by 108.02%. Furthermore, the Nayib Bukele portfolio tracker suggests that El Salvador acquired the digital assets at an average purchase price of $45,450 per Bitcoin.

The country made its first Bitcoin purchase on September 6, 2021, acquiring 200 Bitcoins and officially becoming the first nation to declare Bitcoin a legal tender. The latest purchase solidifies crypto as a treasury asset for President Nayib Bukele’s country.

El Salvador boosts Bitcoin purchases despite IMF warnings

According to BitBo’s Bitcoin Treasuries data, El Salvador ranks sixth among countries that hold Bitcoin, trailing the United States, China, the United Kingdom, Ukraine, and Bhutan.

Despite the International Monetary Fund (IMF) urging El Salvador to scale back some of its Bitcoin activity, the country continues to purchase one Bitcoin a day. However, one day after reaching a $1.4 billion agreement with the IMF, El Salvador purchased $1 million in Bitcoin, and again on December 22.

These purchases align with El Salvador’s National Bitcoin Office Director Stacy Herbert’s statement on X on December 19, where he stated that the country will be buying Bitcoin at an accelerated rate.

Bitcoin brings financial freedom to the Central American country

El Salvador takes pride in the milestones achieved with Bitcoin since embarking on the mission to stack digital assets. In a recent meeting between Vice President Félix Ulloa Jr. and Ambassador of the People’s Republic of China Zhang Yanhui, the country highlighted these achievements.

During the meeting, the Vice President mentioned that Bitcoin has made their country an icon of financial freedom. He elaborated, stating that the country’s Bitcoin reserve currently surpasses the 6,217 BTC mark, valued at over $500 million.